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BMO Ascend World Elite Mastercard Review

Earn more points on travel, dining and entertainment purchases and get a generous welcome bonus.

Get up to 60,000 points and get the $150 annual fee waived in the first year.

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Claire Horwood

Last Updated Jan 7, 2021

60,000 points

Welcome Offer

$0 annual fee for the first year ($150 thereafter)

Annual Fee

Up to 5x points per $1 spent

Rewards

Details

Rewards	Get 5x the points for every $1 spent on eligible travel purchases, 3x points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments, and 1 point for every $1 spent elsewhere.
Welcome Offer	Get up to 60,000 points and get the $150 annual fee waived in the first year.
Purchase Interest Rate	20.99%
Cash Advance Rate	23.99%
Balance Transfer Rate	22.99%
Interest Free Period	Up to 21 days
	Apply now More Info

Annual Fee	$0 annual fee for the first year ($150 thereafter)
Monthly Service Fee	N/A
Foreign Currency Conversion Fee	2.5%
Balance Transfer Fee	3%
Cash Advance Minimum Fee	$5
Over Credit Line Fee	$29
Late Payment Fee	N/A
Dishonoured Payment Fee	$48
	Apply now More Info

Min. Credit Score	760
Minimum Age	Age of majority in the province/territory of residence.
Minimum Income	$80,000
Household Income	$150,000
	Apply now More Info

Claire Horwood

Claire Horwood is a writer at Finder, specializing in credit cards, loans and other financial products. She has a Bachelor of Arts in Gender Studies from the University of Victoria, along with an Associate's Degree in Science from Camosun College. Much of Claire's coursework has focused on writing and statistics, with a healthy dose of social and cultural analysis mixed in for good measure. She has also worked extensively in the field of "Blended Finance" with the Canadian government. In her spare time, Claire loves rock climbing, travelling and drinking inordinate amounts of coffee.

30-second take

Think about this card if you want a decent return on travel points and comprehensive travel insurance.

Choose something else if you’d rather have a low interest rate or don’t want to pay an annual fee.

This card does not have minimum annual income requirements.

The basics

Whether you’re setting off on your next business trip or planning a 5-star resort stay, the BMO Ascend World Elite Mastercard could be a good fit for you.

High return. Get 5x the points for every $1 spent on eligible travel purchases, 3x points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments, and 1 point for every $1 spent elsewhere.
Welcome bonus. Get up to 60,000 points and get the $150 annual fee waived in the first year.
Purchase protection. Protect the items you buy on your card with extended warranty and insurance coverage.
Travel insurance. Cash in on travel medical insurance and get access to trip interruption, trip cancellation, flight delay and baggage insurance.
Discounts. Get 15% off admission to Cirque du Soleil shows touring Canada, and 20% off resident shows in Las Vegas.

The perks

Car rental insurance. Get complimentary Collision Damage Waiver benefits (MSRP of up to $65,000).

Digital services perks. Get benefits and offers for digital everyday services from a variety of on-demand apps and subscription services.
Access WiFi worldwide. Access over 1 million WiFi hotspots around the world at no added cost, with no added fees or roaming charges.
Mastercard rewards. Unlock Mastercard Travel Rewards cashback offers when you travel and shop outside of Canada.
Zero liability coverage. Rest easy knowing you’re protected against fraudulent charges on your account.
Enhanced security. Use your Mastercard SecureCode to protect your purchases online.
Optional benefits. Pay more for roadside assistance, balance protection or credit card alerts.

What to watch out for

High annual fee. The annual fee for this card is $150. Annual fee waived in the first year.
High interest. You’ll pay 20.99% interest on outstanding balances and for cash advances.
Fee for additional cards. There’s a $50 fee for additional cardholders.
Difficult to qualify. The minimum income to get approved for this card is $80,000.

What should I know before I apply

To apply for a BMO Ascend World Elite Mastercard, you will need to meet the following criteria:
- Be a Canadian citizen or permanent resident who is at least 18 years old (19 in some provinces)
- Have a minimum annual income of $80,000 or a household income of $150,000
- Your name, residential status and contact information.
- Your social insurance number and date of birth.
- Your email address and phone number.

How to apply

Click Go to site to be directed to your BMO Ascend World Elite Mastercard application.
Read through the Disclosure Statement details and click Accept & Continue.
Complete the application with details that include your name, email address, social insurance number and birth date.
Review and submit your application.

Bottom line

The BMO Ascend World Elite Mastercard is a good fit for frequent flyers who spend a decent amount on travel, dining and entertainment. This card comes with a welcome offer, comprehensive travel insurance and other perks like car rental insurance and airport lounge access.